BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Oil and Natural Gas Corp.'s FY21 recurring earnings per share was down 20% YoY on plunge in oil and gas prices as Covid-19 hit demand.
Brent is up 4.3 times from April 2020 lows to $75/barrel of oil on demand recovery from lows and Organization of the Petroleum Exporting Countries plus capping supply to ensure supply deficit.
Iran exports may resume, but vaccine rollout driven demand recovery appears well placed to absorb rising supply and keep Brent over $70/bbl.
U.K. National Balancing Point and Asian liquefied natural gas prices surging to multi-year highs is likely to boost H2 FY22-FY23E administered pricing mechanism and deepwater gas prices from FY21 lows.
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